BMO Capital Markets Increases Century Aluminum (NASDAQ:CENX) Price Target to $18.00

Century Aluminum (NASDAQ:CENX) had its price target lifted by BMO Capital Markets from $16.00 to $18.00 in a research note released on Tuesday, Benzinga reports. BMO Capital Markets currently has a market perform rating on the industrial products company’s stock.

Several other brokerages also recently commented on CENX. B. Riley increased their price objective on shares of Century Aluminum from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday. StockNews.com downgraded shares of Century Aluminum from a “hold” rating to a “sell” rating in a research note on Friday, November 1st.

Century Aluminum Price Performance

Shares of NASDAQ CENX opened at $21.05 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 1.72. The company has a 50 day simple moving average of $15.55 and a two-hundred day simple moving average of $16.19. Century Aluminum has a fifty-two week low of $6.25 and a fifty-two week high of $22.29. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 10.12 and a beta of 2.47.

Century Aluminum (NASDAQ:CENX) last announced its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.31. Century Aluminum had a negative return on equity of 0.04% and a net margin of 10.32%. The business had revenue of $539.10 million during the quarter, compared to analysts’ expectations of $587.10 million. During the same quarter in the previous year, the business earned ($0.13) earnings per share. Analysts expect that Century Aluminum will post 0.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CENX. Versor Investments LP purchased a new position in Century Aluminum in the 3rd quarter worth about $256,000. Los Angeles Capital Management LLC grew its position in Century Aluminum by 36.5% during the third quarter. Los Angeles Capital Management LLC now owns 26,977 shares of the industrial products company’s stock valued at $438,000 after buying an additional 7,212 shares during the period. Covestor Ltd increased its holdings in Century Aluminum by 612.1% during the third quarter. Covestor Ltd now owns 13,993 shares of the industrial products company’s stock valued at $227,000 after buying an additional 12,028 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Century Aluminum by 17.0% during the third quarter. Principal Financial Group Inc. now owns 301,992 shares of the industrial products company’s stock valued at $4,901,000 after buying an additional 43,881 shares during the last quarter. Finally, Olympiad Research LP bought a new position in Century Aluminum in the third quarter worth approximately $180,000. 61.59% of the stock is owned by institutional investors.

About Century Aluminum

Century Aluminum Company, together with its subsidiaries, engages in the production of standard-grade and value-added primary aluminum products in the United States and Iceland. It also owns and operates an alumina production facility in Iceland, and a carbon anode production facility in the Netherlands.